The Budget 2015 and Deeds of Variation
So, the Budget 2015 was delivered this week and following many news stories about tax avoidance, it was to be expected that this would feature in the Budget.
Interestingly, Deeds of Variation are to be reviewed. Deeds of Variation are documents which allow executors and beneficiaries of a deceased person’s estate to vary the deceased person’s Will or where they didn’t leave a Will, the intestacy provisions to achieve various objectives. There are a range of issues and time limits to consider but I won’t go into them in this blog. Importantly, Deeds of Variation allow the executors and beneficiaries to vary the Will or intestacy provisions for a number of reasons, but one of the main reasons tends to be to avoid tax.
The moral of this Budget where Deeds of Variation are concerned – contact Samantha Downs on 0116 2628596 to make a tax efficient Will prior to your death rather than relying upon your executors and beneficiaries being able to vary your estate after your death.